Revenue Management For Meeting Space
An introduction to revenue management for meeting & event space
Description
This five week course is for those who need to understand the basics of Revenue Management and how they can be related to M&E. Developed by industry-leading experts this course is tailored for hospitality professionals eager to delve into how RM can improve profitability of meeting and events space.
Areas Covered
- Introduction to how revenue management applies to meeting space
- Calculating the value of space
- Understanding demand
- Pricing strategies
- The booking journey from Enquiry to Contract
- Measurements and KPIs
Benefits
Learn from home at your own pace.
Online support from our industry-leading experts.
Opportunity to collaborate with other learners in our online learning space.
Free HOSPA membership.
Discounted access to HOSPACE.
Discounted access to the annual HOSPA learner awards.
Digital textbook and case study based assessment
Detailed Syllabus
Module 1 – Introduction to Revenue Management in Meeting Space
The revenue management process
Applying basic revenue management principles to meeting space
The role of the M&E Commercial and Operational teams and the link with revenue management
How to measure space
Module 2 – Understanding Demand
Booking status and how to track conversion
Tracking historic demand by booking size, lead time and number of delegates
Segmenting the business
Constructing demand calendars
Understanding the value of space and determining capacity
Module 3 – Forecasting, Strategy and Pricing
Creating demand forecasts
Fixed vs Dynamic pricing
Understanding the breakdown of the DDR and relative costs
Costs and how to increase profit
Module 4 – Performance Management and Evaluating Results
Key performance indicators for meeting space
Revenue indicators for all revenue areas
Overview
Duration: Five Weeks Format: Online / Tutor-Led Pace: 4-5 Hours per week
Experience: Entry
Intake: March / September
Similar courses available soon:
Foundation Certificate in Revenue Management for Meeting Space
Professional Certificate in Revenue Management for Meeting Space
Who is it for?
M&E Office Managers, Sales Executives, Revenue Managers, General Managers, Anyone who has responsibility for meeting space operations, Hotels, Conference Centres, Venues with no accommodation.